When starting a marijuana business, your plan will need to be a bit more detailed than it would be if you were opening a less strictly regulated business. For instance, if you are planning to sell your marijuana products in a private club, you will have to file a retail marijuana business license with the state. Just make sure to read about autoflowering seeds before deciding to start your business, specially if you are thinking about growing the products you’ll sell.
In addition to filing the business license, there are other important steps that you must take in order to legally operate a marijuana business. Those steps include:
Establishing security standards
Securing the premises
Maintaining medical marijuana identification cards
As a newly established marijuana business, you will need to create a business plan and hire an accountant. The first step to preparing your marijuana business plan is to find out about the business taxes that you are expected to pay. The laws that regulate the manufacture and sale of marijuana in Colorado require that marijuana retailers pay taxes on their gross sales revenue. The average tax rate for marijuana is 12 percent, with a rate of 12 percent imposed on all gross sales. Many retailers will pay a tax rate as high as 33 percent. Your marijuana business will also need to establish records that you will need to keep. The records that you will need include all transactions, employees, addresses, and identification cards for your employees. Your records will contain the following information: Your business name
Your business address
Your business phone number
Your employee names and positions
The dates of birth and Social Security numbers for all employees
The names and addresses of all vendors
Your medical marijuana identification card
The date that you have paid taxes, if any. The Department of Revenue is required to maintain your records and will verify that you are in compliance.
4. What is the limit on how many marijuana plants and how many plants can I grow?
The number of medical marijuana plants that you can have is limited by the California Medical Marijuana Program. The limit is 25 plants, the same limit as those who qualify as legal caregivers. You may not plant more than 35 plants during a one-year period. No more than 5 percent of the medical marijuana grown for sale in California is distributed to other patients. 5. What is the current sale price for marijuana? The average sales price of medical marijuana in California was $7 a gram ($50/lb.). The law says the price may vary by location. For a list of dispensaries in your area, visit http://www.ocpr.ca.gov/dispensarySearch.php. 6. How do I get my marijuana? In most cases, you must visit a dispensary. You can register for a medical marijuana card from the website of the California Medical Marijuana Program. 7. Do I have to register with the California Medical Marijuana Program to use medical marijuana? You are allowed to use medical marijuana as a medical treatment. It is not an official medical treatment for any other purpose, such as treating an injury or improving an illness. 8. What is the medical use of marijuana? To determine if you have a medical condition that qualifies you